Analysts Set Berkshire Hills Bancorp, Inc. (NYSE:BHLB) PT at $31.13

Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $31.13.

BHLB has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Berkshire Hills Bancorp from $32.00 to $34.50 and gave the company a “market perform” rating in a research note on Tuesday, December 24th. Seaport Res Ptn upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $31.00 price objective on shares of Berkshire Hills Bancorp in a research note on Friday, January 31st. Finally, Piper Sandler raised shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 16th.

Insider Buying and Selling at Berkshire Hills Bancorp

In related news, EVP Ellen Tulchiner sold 1,052 shares of Berkshire Hills Bancorp stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $29.97, for a total value of $31,528.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Berkshire Hills Bancorp

Several institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio acquired a new position in Berkshire Hills Bancorp during the fourth quarter valued at approximately $1,279,000. Voloridge Investment Management LLC bought a new stake in shares of Berkshire Hills Bancorp during the 4th quarter worth $1,841,000. Systematic Financial Management LP grew its stake in Berkshire Hills Bancorp by 5.0% in the 4th quarter. Systematic Financial Management LP now owns 999,861 shares of the savings and loans company’s stock valued at $28,426,000 after buying an additional 47,234 shares during the last quarter. ProShare Advisors LLC raised its holdings in Berkshire Hills Bancorp by 44.5% in the 4th quarter. ProShare Advisors LLC now owns 12,923 shares of the savings and loans company’s stock worth $367,000 after acquiring an additional 3,980 shares during the period. Finally, Man Group plc acquired a new position in Berkshire Hills Bancorp during the 4th quarter worth $216,000. 83.07% of the stock is currently owned by institutional investors.

Berkshire Hills Bancorp Trading Down 0.9 %

Berkshire Hills Bancorp stock opened at $29.21 on Monday. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 20.28 and a beta of 0.88. Berkshire Hills Bancorp has a 1 year low of $20.50 and a 1 year high of $32.36. The firm’s 50 day moving average price is $28.80 and its two-hundred day moving average price is $28.17. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its earnings results on Thursday, January 30th. The savings and loans company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.06. Berkshire Hills Bancorp had a return on equity of 8.91% and a net margin of 8.56%. On average, research analysts predict that Berkshire Hills Bancorp will post 2.52 EPS for the current fiscal year.

Berkshire Hills Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $0.72 annualized dividend and a yield of 2.47%. Berkshire Hills Bancorp’s dividend payout ratio is presently 50.00%.

About Berkshire Hills Bancorp

Berkshire Hills Bancorp, Inc operates as the bank holding company for Berkshire Bank that provides various banking products and services in the United States. The company provides various deposit accounts, including demand deposit, interest-bearing checking, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts.